eBay Q4 guidance light, macro blamed; Amazon off in sympathy

EBAY expects Q4 revenue of $4.5B-$4.6B and EPS of $0.79-$0.81, below a consensus of $4.64B and $0.83. In a quote talking up eBay's Q3 numbers, CEO John Donahoe calls the macro environment "fairly lackluster." Back in July, European and Korean macro issues were blamed for eBay's below-consensus Q3 guidance.

Payments division (PayPal) growth remained strong in Q3: sales +19% Y/Y (to $1.62B) vs. +20% in Q2. Payment volume +25% (to $43.8B) vs. +24%, active accounts rose by 5M Q/Q to 137M (+17% Y/Y). Merchant services (non-eBay) transaction volume +30% Y/Y.

Marketplaces revenue +12% Y/Y (to $2.03B) vs. +10% in Q2; mobile provided a lift. GMV (exc. vehicles) +13%, even with Q2. U.S. GMV +15% vs. +16%, international +12% vs. +11%. Total listings topped 500M. Active users rose by 3.9M vs. 3.5M in Q2, +14% Y/Y and reaching 124M.

EBAY -4.2% AH. AMZN -1.2% in sympathy. CC at 5PM ET.

Q3 results, PR

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Comments (1)
  • Seeker137
    , contributor
    Comments (426) | Send Message
    The amoral "law unto itself" ebay has become can be traced back to John Donahoe becoming CEO in 2008, his introduction of the DSRs and a number of other egregious policies: PayPal holds, seller limitations, forcing sellers to only take PayPal, the fee hikes of course, Guardrail or Quick Decline and trending. All of this combined (by design) eliminates small sellers at ebay through restrictions and suspension. Because of the nature of predatory capitalism, ebay thrives because no outside mechanisms (SEC, FTC, Attorney General's offices, Senators, Congressmen) are reacting to the illegalities being perpetrated by ebay. Are they blind to it, unaware of it, or "bought off", or a combination of the three. A good investigative report by some major television network is needed to get the ball rolling in terms of exposing ebay publically and getting a real investigation by authorities capable of doing something. Maybe a House/Senate Committee Investigation of ebay (televised of course) along the lines of the Watergate Hearings or the Clarence Thomas hearings. If thousands of sellers who have suffered unjustly from ebay could testify before government officials UNDER OATH factually and truthfully this would be DAMNING to ebay. The further grilling of ebay top brass as they attempt to justify their egregious actions would be interesting. I urge anyone reading this to write to your Congressman or Senator in Washington DC (you can Google contact info), state your case accurately, request an investigation into ebay. Snail mail works better for OFFICIAL matters.
    16 Oct 2013, 09:52 PM Reply Like
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